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10th July 2015
The Halifax house price index shows that the average UK property now costs £200,280, with prices up by 1.7% in June compared with May in a fourth consecutive monthly rise. According to Halifax economist Martin Ellis, the main factor in maintaining a steady house price growth in 2015 has been a continued shortage of properties up for sale. Howard Archer, economist with IHS Global Insight, has forecast an overall 6% rise in house prices for 2015, but warns that data from Halifax has, overall, been more volatile than other house price measures over the past few months. Nationwide, for example, last week said the pace of increases was at a two-year low.
The Guardian (09/07/2015)
3rd July 2015
Greenland Group is showing off its latest proposals for the 67-store Hertsmere House, at a two-day public exhibition at the London Marriott West India Quay. Detailed plans for Europe’s tallest residential building, along with improvements to public amenities and leisure space at ground level, are on view Friday July 3rd and Saturday July 4th. The developer has planning permission already for a 63-storey commercial tower, although that option is said to have fallen out of favour.
The Wharf (02/07/2015)
3rd July 2015
Private rented sector specialist Fizzy has agreed to purchase 348 units on Canning Town’s Silvertown Way regeneration project from Galliford Try and Opal Land, for £135m. The apartments are due to be complete by the second half of 2019. When complete, the Silvertown Way project will host 1,100 homes across 11 blocks, and will include a hotel, gym, shops, offices and restaurants.
Property Week (30/06/2015)
3rd July 2015
British buyers are to be offered first refusal on new apartments being launched in Canary Wharf. The first residential offering from Canary Wharf Group, which has previously specialised in commercial property, goes on sale on Thursday July 9th. Unlike the Battersea Power Station development, where the majority of 866 luxury apartments sold out within days to Singaporean investors, the new offering in Canary Wharf will not be advertised overseas. The development is made up of 74 studios, 115 one-bedroom apartments, 141 two-bedroom apartments and 15 three-bedroom apartments and anticipated to complete in 2019.
Daily Mail (30/06/2015)
3rd July 2015
London mayoral hopeful Dame Tessa Jowell has said landlord licensing could see rogue examples prosecuted for letting out poor quality homes. She cited the example set by the borough of Newham whose mandatory licensing scheme has attributed to 62% of prosecutions under the 2004 Housing Act despite having fewer than 5% of the capital’s privately-rented households.
Evening Standard (02/07/2015)
3rd July 2015
The annual rate of house price growth fell to a two-year low last month, the Nationwide Building Society has said. Annual house price inflation fell to 3.3% in June from 4.6% the month before, it said. Between May and June prices across the UK fell by 0.2%, taking the average cost of a UK property to £195,055. Robert Gardner, Nationwide's chief economist, said: "House price growth continues to outpace earnings, but the gap is closing, helped by a pick-up in annual wage growth, which moved up to 2.7% in the three months to April from 1.9% at the start of the year. The slowdown in house price growth is not confined to, nor does it appear to be driven primarily by, developments in London”. The average price in the capital rose by 7.3%, to £429,711.
The Daily Telegraph (02/07/2015)